AMC Networks (NASDAQ:AMCX) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

AMC Networks Inc. (NASDAQ:AMCX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.19 and traded as high as $8.35. AMC Networks shares last traded at $8.30, with a volume of 311,277 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMCX shares. Wells Fargo & Company lifted their target price on shares of AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Morgan Stanley set a $7.00 price target on AMC Networks in a research report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, AMC Networks has a consensus rating of “Reduce” and an average price target of $8.50.

AMC Networks Price Performance

The company has a market cap of $364.62 million, a price-to-earnings ratio of 13.83 and a beta of 1.31. The company has a current ratio of 1.75, a quick ratio of 1.67 and a debt-to-equity ratio of 1.75. The company has a fifty day moving average price of $7.75 and a two-hundred day moving average price of $8.19.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.14). The firm had revenue of $542.13 million during the quarter, compared to analyst estimates of $540.67 million. AMC Networks had a net margin of 2.28% and a return on equity of 8.70%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, equities research analysts anticipate that AMC Networks Inc. will post 1.82 EPS for the current fiscal year.

Insider Activity

In other news, CAO Michael J. Sherin III sold 5,963 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total transaction of $47,465.48. Following the completion of the transaction, the chief accounting officer directly owned 10,648 shares of the company’s stock, valued at approximately $84,758.08. This trade represents a 35.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quantinno Capital Management LP lifted its stake in AMC Networks by 8.4% during the first quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock worth $379,000 after purchasing an additional 4,325 shares during the period. Gabelli Funds LLC grew its stake in shares of AMC Networks by 2.4% in the 1st quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after purchasing an additional 3,000 shares during the period. Cetera Investment Advisers raised its holdings in shares of AMC Networks by 261.7% in the 1st quarter. Cetera Investment Advisers now owns 41,175 shares of the company’s stock worth $280,000 after buying an additional 29,792 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of AMC Networks by 18.5% in the 1st quarter. First Trust Advisors LP now owns 19,720 shares of the company’s stock worth $134,000 after buying an additional 3,074 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of AMC Networks by 70.2% during the 1st quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company’s stock worth $126,000 after buying an additional 7,643 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.